Announcement by The Ministry of Trade on Cash Dividend Distribution

Based on Article 13/5 of the “Guideline on Procedures and Principles of the General Assembly Meetings of Joint Stock Companies and Representatives of Ministry of Trade to be Held in These Meetings” an article has been sent to Turkish Union of Chambers and Exchange Commodities by Turkish Ministry of Trade on 03/31/2020 regarding the protection of equity capital of the company. According to the Article, it has been stated;

In the cash dividend distribution decision which will be included in the agenda at the meeting of the general assembly to be held this year regarding the 2019 financial year of corporations, except publicly-owned companies,

· The profits of the previous years will not be a subject of the distribution,

· The distribution amount will not exceed 25% of the net period income of 2019,

· The Board of Directors should not be authorized to distribution of advance dividend.

If you would like to know more on Cash Dividend Distribution or require legal assistance, please get in touch with Berker Berker Law Office via info@berkerberker.com or any other contact information listed at our website.